NEW DELHI: TATA Steel has approved the sale of its entire stake in Jamshedpur Football and Sporting Private Limited (JFSPL), the owner of Indian Super League (ISL) club Jamshedpur FC, to Goa-based Churchill Brothers Sports Club Private Limited for a nominal consideration of Rs 100.

Approved by TATA Steel's Committee of Directors on Friday, the deal entails the transfer of all 4.08 crore equity shares held by the company in its wholly owned football subsidiary. Both entities have signed a formal Share Purchase Agreement outlining the transaction terms.

Key details of the agreement include:

The completion of the sale is expected by August 31, subject to customary conditions and regulatory clearance from the All India Football Federation (AIFF). Jamshedpur FC's ISL sporting licence will be transferred to Churchill Brothers in line with AIFF regulations.

Churchill Brothers will assume the contracts of Jamshedpur FC's 12 players and two coaches starting from September 2026, enabling them to continue their professional ISL careers. The sale concludes TATA Steel's direct ownership of Jamshedpur FC in Jharkh and.

However, the steel major stated it will maintain its commitment to grassroots and youth football development, particularly focusing on identifying and nurturing talent from local and tribal communities. Its TATA Football Academy, established in Jamshedpur in 1987, has trained over 300 cadets, with approximately 150 advancing to represent the Indian national team.

Churchill Brothers, a club based in Goa for nearly four decades with two I-League titles, was previously relegated to the third tier (I-League 2) by the AIFF following a legal and administrative dispute over an I-League title and failure to take part in the Indian Football League (IFL) season. Prior to the agreement, the AIFF had given Jamshedpur FC until August 12 to reconsider their decision to cease first-team operations.